Emirates City Forum

Just received the following offer from Giga regarding their Smart Towers project... At least it is something!

With continued commitment to our unit owners, investors and shareholders in the above captioned
project; Goldcrest Properties FZE, with whom you have contracted for investment in Gold Crest Smart
Towers, is updating you on the latest development on the project along with an appealing offer.

As you will be well aware of the global financial crisis crippling investments worldwide, which adversely
affected the UAE property market as well, but had a more devastating effect on smaller markets like
Ajman. As the leaders (Dubai and Abu Dhabi) are swiftly recovering back in terms of market offering, the
sentiments are still weak in Ajman, which is witnessing a heavy depletion both in terms of price and
quantity of delivery.

We draw your kind attention to our project launch in June 2008, where in our true capacity and with a
reputation in promoting master developments and as a trend setter, there was an instant sale of units at
launch. Unprecedentedly, the master developer of Ain AJMAN is facing delay in terms of delivery of the
plot, services, and infrastructure development in general; however, we remain fully committed to our
projects and are in the process of starting construction. Bearing these issues in mind, we rationally
anticipate a delay in completion and delivery of our project, together with constant demand from unit
owners to shift their units to Dubai, has prompted us to offer an upgrade for our esteemed customers.

We are privileged to offer our valued customers an alternative concrete proposal for their investment
with us, by offering a similar property in Dubai for a similar price. As you will be aware of the bounce
back of Dubai as a preferred global investment choice with highly promising market conditions
prevailing, we intend to consolidate your current unit/portfolio into the Dubai project. To achieve this,
we have collaborated with Gulf General Investment Company (“GGICO”), a premier developer in Dubai,
who has triumphant track record in delivering major projects in the region. We have mutually agreed to
allocate units in Cyber Residences in the renowned Dubai Silicon Oasis (“DSO”), planned to match the
property adage of location, location, location for adding further value. This will ensure that the
supporters and investors of our projects will continue to enjoy investment performance at enhanced
returns.